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April 15, 2015 was the last day to file your 2011 taxes to claim your refund!
Yes, you can still file your 2011 tax return. Unfortunately, you can no longer claim your 2011 refund.
Thanks to the IRS statute of limitation, you only have three years from the original tax return due date to get your refund. Once the three years passes by, don’t expect to see a penny of your refund money.
If you still need to file your 2011 taxes & owe tax…
If you still need to file your 2011 taxes, you should do so as soon as possible. If you weren’t expecting a 2011 tax refund and instead have tax due, you should keep in mind that failure-to-file fees, failure-to-pay fees and interest increase by the day. The longer you wait, the more you’ll end up paying. Continue reading “Can I File My 2011 Taxes in 2015?”
The filing deadline to claim your 2011 tax refund has passed but you should still file
The IRS statute of limitations allows you to claim a refund for three years after the original due date of a return. That means you had until April 15, 2015 to file your 2011 return and claim your refund.
If you didn’t claim your refund by April 15, 2015 then the U.S. Treasury got to keep your refund. You can still file a return, but you won’t get any money back.
Penalties and interest
If you were due a refund here’s some good news: you won’t have to pay any penalties or interest. That’s right, the IRS only charges penalties and interest of people who owe taxes. Letting the IRS keep your refund is the only punishment you’ll face for filing late. Continue reading “Can You Still Get a 2011 Tax Refund?”
The 2011 tax season is set to begin! The RapidTax team comes together to wish you an excellent 2012 and a worry-free season. We welcome you and look forward to making your online tax filing this year as effortless as possible.
File your tax return now, and get a smooth start to the tax season!
We want you to be confident that RapidTax will net you the maximum refund you are eligible for in the shortest time. To this effect, our software has been updated to reflect the very latest IRS changes for 2011.
These include but are not limited to:
- Changes in the way capital gains and losses as well as foreign financial assets are reported.
- Changes to how the self-employed health insurance deduction is claimed, and
- Increases in the exemption amounts for the Alternative Minimum Tax (AMT).
2011 thankfully saw few major changes to the tax code, unlike the years that preceded it. Here are those you should make a note of as you get set to file your 2011 taxes:
- First, the traditional April 15th deadline is once again moved forward. Because the 15th falls on a Sunday in 2012, and April 16th is the District of Columbia’s Emancipation Day holiday, the last day to file your 2011 taxes this year is April 17th. So everyone gets an extra two days to file.
- Exemption levels for the Alternative Minimum Tax (AMT) are increased, rising to $48,450 for single filers, $74,450 for married couples filing jointly, and $37,225 for married individuals filing separately. For 2011 only those with incomes above these thresholds need worry about the AMT.
- The First-time Homebuyer credit will only be available to members of the uniformed services, Foreign Service, or intelligence community who were on a qualified official extended duty for at least 90 days outside the U.S. between December 31, 2008 and May 1, 2010.
- If you converted or rolled over an amount to a Roth IRA in 2010 and did not report the total taxable amount on your 2010 return, you must report half of it on your 2011 return and the other half on your 2012 return. The same applies to amounts rolled over from a 401(k) or 403(b) plan to a designated Roth account.
- For Health Savings Accounts (HSAs) and Archer MSAs, the additional tax on distributions not used for qualified medical expenses is increased to 20% for distributions made after 2010.
- The Making Work Pay credit, as well as most provisions of the Alternative Motor Vehicle credit are eliminated for 2011.
